Fugitive Sandesara Archives

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India, Special StoryFugitive Sandesara, Sterling biotech

Five companies in race to acquire Sterling Biotech: Click to see the names…

Sterling Biotech and its subsidiaries - Sterling SEZ and Sterling International - collectively owe Rs 15,000 crore to operational and financial creditors./ Last month, the liquidator had invited bids for the liquidation process of Sterling Biotech to sell it as a going concern at a reserve price of Rs 548.46 crore. Lovkesh Batra, a member of the Mamta Binani-led liquidation team told NEWSBYTS,that the shortlist of entities looking to acquire the world's sixth-largest manufacturer of pharmaceutical gelatin has been pared from about a dozen aspirants. "The qualified…

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'Politics, Bollywood, Business, Economy, Gujarat, India, Special StoryCHETAN SANDESARA DEFAULTERS FUGITIVE SANDESARA NITIN SANDESARA STERLING BIOTECH, Fugitive Sandesara, Nitin Sandesara

Employees of Sterling Energy and Exploration Production Ltd (SEEPCO) in Nigeria, reached out to the Indian government for help about unpaid salaries through Twitter.

In June 2016, several people, claiming to be employees of Sterling Energy and Exploration Production Ltd (SEEPCO) in Nigeria, reached out to the Indian government for help through Twitter. They had not been paid salaries for more than seven months. Responding to one of those tweets by Prashant Singh, who said he was working as a geophysicist at SEEPCO’s exploration facility at Lagos in Nigeria, minister of state for external affairs V.K. Singh said on 15 June that the “Indian embassy was making all efforts and will…

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'Politics, Bollywood, Business, Crime, Economy, Gujarat, Special StoryCHETAN SANDESARA DEFAULTERS FUGITIVE SANDESARA NITIN SANDESARA STERLING BIOTECH, Fugitive Sandesara, Nitin Sandesara

Who is Nitin Jayantilal Sandesara? Sterling Biotech owner who has been declared “Absconding”

Nitin Sandesara, owner of Gujarat-based Sterling Biotech has been detained in UAE in connection with a Rs 5,000 crore bank fraud. The pharma player has allegedly been involved in wilfully defaulting on bank loans worth Rs 5,383 crore and diverting them for personal purposes of the owners. The Indian Express reported sources as saying that Sandesara has been detained in Dubai on a request from the two agencies and the Ministry of External Affairs (MEA) is now in touch with the authorities concerned there to bring him…

By NewsByts Team

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Business, CompaniesCHETAN SANDESARA, CHETAN SANDESARA DEFAULTERS FUGITIVE SANDESARA NITIN SANDESARA STERLING BIOTECH, DEFAULTERS, Fugitive Sandesara, Nitin Sandesara

Fugitive Sandesara of Sterling Biotech Dictates Terms to Indian Public Sector Banks

Remember the four politically powerful promoters of the Sterling Biotech group (Nitin Sandesara, Chetankumar Sandesara, Dipti Chetan Sandesara—and Hiteshkumar Patel) who have been absconding from India after running up Rs15,600+ crore of bad loans? They continue to manipulate the judicial system, string banks along and, now, have come up with a proposal to delay their one-time settlement (OTS) of Rs2,638 crore to December 2021. This is the balance after paying up a pittance of Rs181 crore as part of their Rs3,100 crore settlement that the National Company Law Appellate…